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StocksMedium•13 April 2026•

1 min read

TD Cowen Initiates Digital Asset Coverage, Trims MicroStrategy Price Target

Key Facts

1TD Cowen cut its MicroStrategy price target to $350 based on lower Bitcoin price assumptions.

2TD Cowen initiated coverage of SharpLink Gaming (SBET) with a Buy rating, citing its position in sports betting affiliate marketing and crypto treasury management.

TD Cowen has expanded its equity research portfolio by initiating coverage on several specialized financial and digital asset firms. The investment bank lowered its price target for MicroStrategy (MSTR) to $350, citing revised and more conservative assumptions for Bitcoin prices. Simultaneously, TD Cowen issued a 'Buy' rating for SharpLink Gaming (SBET), highlighting its strength in sports betting affiliate marketing and crypto treasury management. The firm also initiated coverage on Strive (ASST), an anti-ESG asset manager, assigning it a 'Buy' rating with a price target of $26. These moves signal TD Cowen's growing focus on niche firms that integrate digital assets into their corporate treasury strategies. While the outlook for newly covered small-cap stocks is positive, the adjustment for MicroStrategy reflects ongoing volatility in the broader cryptocurrency market.